Blue Ribbon to resume operations

HARARE — Grain milling and food processing firm, Blue Ribbon Industries, will resume operations next month after securing a supply agreement for raw materials, a source familiar with the developments said on Friday.

The company, which is under judicial management, shut down in 2012 due to funding constraints and a $2 million debt to the PTA Bank.

It was placed under judicial management of Grant Thornton Camelsa Chartered Accountants by the High Court to help facilitate its revival.

“Through the assistance of stakeholders and government, the company has managed to tie up a supply agreement for raw materials and should be operating the Harare plant by June,” the source said.
— The Source

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